Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (36330)	11/15/1998 8:59:00 PM
From: MythMan	Read Replies (2) \| Respond to of 132070

what does he know. He thinks Dow will be @ 5K next month -g-

To: Knighty Tin who wrote (36330)	11/16/1998 9:29:00 AM
From: Ilaine	Read Replies (2) \| Respond to of 132070

Hi Mike, interesting op-ed piece by Arthur Levitt, chairman of Securities and Exchange Commission, in today's Washington Post, re: proposal to invest Social Security money in the stock market: washingtonpost.com A snippet of the part that interested me: "Finally, those who oppose self-directed individual accounts often favor a more direct form of government investment in the securities markets. Such investments also would have serious implications. For example, those who support trust fund investments in the stock market argue that it would enable market risk to be spread across society and across generations and that economies of scale would help reduce costs. But opponents question whether the government would have a strong incentive to control market fluctuations, if not the market itself. And trust fund investments could lead to political interference in deciding which companies to invest in and how those companies were run. Could the government invest in a tobacco company? What about a company that was a toxic polluter a decade ago? America's markets have earned their status as the world's premier securities markets. Maintaining that integrity is of utmost importance to the SEC." In light of the fact that OMB already invests TSP money in the stock market, these questions could probably be answered by looking at how OMB deals with them. Hint: by investing in S&P 500, or so I have been told. But it's nice to see someone throwing the issues out for public scrutiny. CobaltBlue